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Africa’s losing $90bn annually to imported substandard fuel, Dangote Laments 

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Delta State Governor hails Seplat Energy’s commitment to host communities

Gombe Govt approves N2 billion for solar streetlights, rural projects

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Energy

Oil & Gas and Power Sector related news

Hike in electricity tariff inevitable, as FG introduces a new policy, Power sector loses N19.15 billion to gas shortages, transmission infrastructure challenges, Second largest hydro power project in Africa to finally take off after settlement of legal dispute

Minister of Power states the impact of COVID-19 on power sector

June 17, 2020

This year shall be a big year for infrastructural investments and upgrades in the sector.

FG appoints Eweluka as NBET MD, as finance, power ministers wrestle

June 16, 2020

Eweluka would succeed Dr Marilyn Amobi as substantive CEO with immediate effect.

Mele Kyari, NNPC, NNPC spends estimated N33.60/litre on petrol subsidy, NNPC vows to be transparent, set to publish details of petroleum product supplies , OML 119: NNPC record 14 bids for development of oil well, This NNPC initiative aims to solve the problem of tanker explosions , Fluctuations of oil price threatening Nigerian content development — NNPC , Lagos pipeline leak contains water, not petrol- NNPC, NNPC gives condition for relocation of tank farms and depots from residential areas , NNPC to cultivate 2,675 hectares of cassava for Ethanol production, Key performance highlights of NNPC for 2019 FY

Petrol supply drops by 21%, NNPC gives reasons for high production cost

June 16, 2020

There is a need for efforts to be geared to pull the cost of producing a barrel of crude.

Senate president warns about dangers of youth unemployment, National Assembly to ensure youth empowerment schemes are realized - Lawan

Senate to review 2013 power privatisation, questions FG’s funding

June 15, 2020

Government should not be given free money. N1.8 trillion has been given to DISCOs maybe in their books.

Fuel scarcity never left; despite fuel supply efficiency claims by NNPC

NNPC releases audited financial statements, refineries record losses of N154 billion

June 15, 2020

The NNPC also published the audited accounts of its 20 subsidiaries and business divisions.

FG to give up majority stakes in its 4 refineries, to be privately managed, NNPC, Pipeline Vandalism: Stakeholder collaboration, critical to tame menace - Kyari, Nigeria explains when it will fully comply with OPEC+ output cut

NNPC, partners to invest 53% of COVID-19 N21 billion intervention

by Ruth Okwumbu-Imafidon

June 12, 2020

NNPC and partners would be investing 53% of the N21 billion COVID-19 donations from the oil and gas sector.

CRUDE OIL, U.S Shale, Naira under pressure, as crude oil hits $25 per barrel, Oil Price: A dead cat bounce in the making?, Bears tear Crude oil futures into shreds as Brent slumps more than 20%

Oil prices hit the biggest daily decline on COVID-19 resurgence, inventories

June 12, 2020

This year has been a turbulent one for the oil market as crude oil prices went negative for the first...

Solar, FG to slash import duties on tractors, buses, others in 2020 Finance Bill, Nigeria will not issue Eurobonds, says Vice President Yemi Osinbajo, FG guarantees mortgage loan to low income buyers at low interest rate, FG inaugurates gold refinery project in a landmark event

FG inaugurates gold refinery project, boosts smaller-scale mining operations

June 11, 2020

Prof. Yemi Osinbajo commissioned the operations of DGPMP to enable Nigeria mine her gold reserves properly, trade responsibly and refine locally.

Between January and December 2023, Nigeria needs N4.2 trillion to meet fuel subsidy requirements – Mele Kyari

NNPC GMD says recent oil price surge is cosmetic, driven by sentiments

June 10, 2020

The supply will overshoot the demand in a short time and we will likely slide to where we were in...

Crude oil prices rally as investors remain optimistic about oil production cut ,Brent Crude continues to rally as businesses resume around the world, Brent crude,, Petrol: OMCs to resume importation of Petrol, Crude oil prices drop, geopolitical tension strengthens, OPEC and Alliance Output Cut are not enough to mitigate Brent’s Oversupply Issues, Brent crude falls, global investors fear strengthened on resurgence of COVID-19 cases, Brent crude drops, as COVID-19 caseloads rise in the world’s largest economies